We see a fair flat tax where there is one deduction: that being the standard deduction for each taxpayer. Any income earned up to or near the poverty line would not be taxed. All income earned in excess of the poverty line would be taxed at a flat rate. Interest, dividends and capital gains would be treated as ordinary income. This would produce a progressive tax system, where all people would pay a fair share. Corporate taxes could be greatly reduced or gotten rid of, eliminating double taxation for individuals and increasing investment for businesses.
Individual federal income taxes would be far more fair and greatly simplified.